In recent years, there has been an increasing focus on financial crime in both public and private entities. The press coverage of money laundering, tax fraud and employee embezzlement of public funds is greater than it has been in the past several years. This increased awareness leads to an increasing
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In a recent video blog, I discuss forecast accuracy as a parameter for measuring the ability to forecast and plan demand. I further argue for the use of causal data as a key input to understanding historical demand and forecasting/planning future demand. Forecast accuracy is often claimed NOT to be
This is the last article in a three-part series on how to reduce uncertainty in the supply chain to reduce costs. This article deals with reducing uncertainty in the interface with your suppliers and supply network. There are several ways to define uncertainty. I like two angles on uncertainty (which
This is the second article in a three-part series on how to reduce uncertainty in the supply chain for lower costs. The first was about reducing uncertainty downstream.This article deals with reducing uncertainty within the company. There are several ways to define uncertainty. I like two angles on uncertainty (which are not
This is the first article in a three-part series on how to reduce uncertainty in the supply chain for lower costs. This article deals with reducing uncertainty downstream – i.e., in relations with customers (and their customers). There are several ways to define uncertainty. I like two angles, which are
I have had talks with many manufacturing, retail and energy companies this year, and the general opinion is that there is huge value to be drawn from the data that has been collected over the years. The consensus is that data can bring new insight and enable better decision making
Manufacturing companies are undergoing a huge pressure to continually increase efficiency, productivity, lower costs, Net Working Capital and other KPIs. Strategies for doing so are many – lean strategies, improved forecasting and planning, closer supply chain collaboration to name a few. In this article, I will discuss the latter –
When I talk to companies on how to improve their forecasting process they often share their difficulties with handling demand from potential large orders, where they are in a tender situation. Further, demand originating from tenders is increasing. Tender demand have characteristics which makes it difficult to handle in traditional
The third article in the series “Analytics vs. Supply Chain Uncertainty deals with predictive analytics – and how it may reduce the uncertainty in your supply chain. Recalling the two definitions of uncertainty presented in the introduction article to this series, uncertainty is either expressed as doubt during decision-making or
Using advanced analytics to pinpoint dead stock can reduce your inventory levels dramatically. How big a portion of your stock is dead. Naturally you’re now thinking about the products or (Stock Keeping Units, SKUs, as they are called in the inventories), which for some reason started to move slowly and